Carbon Clean Raises $150M in Series C Funding

carbon clean

Carbon Clean, a London, UK-based provider of carbon capture solutions, raised USD150m in Series C funding.

The round was led by existing investor Chevron, alongside CEMEX Ventures, Marubeni Corporation and WAVE Equity Partners and new investors, AXA IM Alts, Samsung Ventures, Saudi Aramco Energy Ventures and TC Energy. To date, Carbon Clean has raised $195m.

The company intends to use the funds to expand operations and its business reach, working in collaboration with industrial partners and governments to manufacture and ship hundreds of standardised, fully modular carbon capture units to industrial facilities every year.

Led by Aniruddha Sharma, Chair and CEO, Carbon Clean is a global leader in carbon capture solutions for industries such as cement, steel, refineries and energy from waste. The company’s patented technology has been proven at scale in over 44 sites around the world, including plants in the UK, U.S., Japan, Germany, India, Norway and the Netherlands. It has delivered the world’s largest industrial-scale carbon capture and utilisation plant for Tuticorin Alkali Chemicals & Fertilizers Ltd, India.

As part of the new investment, Carbon Clean and Chevron are seeking to develop a technology demonstration pilot that will test the company’s tech solution at one of Chevron’s co-generation plants in San Joaquin Valley, California.